AMS Homecare Inc. AMS Homecare Reports Q1 Profit Of $208,664 Company Reports Quarterly Revenues Of $1,259,275, Earnings Per Share Of $0.01
IMMEDIATE PRESS RELEASE
Vancouver, BC August 07, 2003
FSC / Press Release
AMS Homecare Reports Q1 Profit Of $208,664
Company Reports Quarterly Revenues Of $1,259,275, Earnings Per Share Of $0.01
Vancouver, British Columbia CANADA, August 07, 2003 /FSC/ - AMS Homecare
Inc. (AHC - TSX Venture), (http://www.amshomecare.com ) a leading national
provider of mobility products to the aging Canadian population, is pleased
to report a first quarter profit of $208,664 and earnings per share of
$0.01. In achieving these quarterly results, AMS generated revenue of
$1,259,275, the equivalent of 47% of all of last year's revenues. The
complete first quarter report can be reviewed on SEDAR by using the
following direct link:
sedar.com
Financial Highlights Of The Quarter
* Net Profit $208,664; 578% Increase over last year
* Revenues $1,259,275; 52% Increase over last year
* Gross Profit $495,331; 76% Increase over last year
* Gross Margins 39%; 15% Increase over last year
* Selling Expenses 9%; 35% Decrease over last year
* Earnings Per Share $0.01
Operational Highlights Of The Quarter
* July 2, 2003 - AMS announced an agreement to purchase a warehouse
facility with manufacturing equipment for a powder coating facility in
Eastern United States. This transaction is subject to financing and is
expected to close in September 2003.
* July 3, 2003 - AMS announced the signing of a renewable two-year
exclusive agreement with Supracor, Inc. ("Supracor") under which the
company shall market and sell Supracor's StimuLITE honeycomb cushioning
products for the health care industry in Canada. The company estimates
this new sales channel will immediately generate between $US 300,000 -
500,000 in annual revenues.
AMS President, Rani Gill, states "We are very pleased to have achieved both
tremendous first quarter results and substantial year-over-year growth for
our shareholders. AMS Homecare is a major participant in the fast-growing
home healthcare market and we intend to capitalize on our market position
to achieve continued growth in both Canada and the United States."
AMS Homecare Director and General Manager, Harj Gill, states "The recent
purchase of our US manufacturing and warehousing facility will allow the
company to better service our customers, while allowing for an expansion of
product lines, manufacturing capacity and distribution capability. The
purchase is subject to financing."
About AMS Homecare Inc. amshomecare.com
Founded in 1989, AMS Homecare is a successful purveyor of mobility
equipment and medical products that are recognized for their innovation,
quality and style. With a base of 200 + dealer customers in Canada, the
Company is moving forward to strengthen its foundation and to build an
organization capable of serving the independence needs of the aging
populations in Canada and the United States.
This release may contain forward-looking statements with risks and
uncertainties that may cause the actual results to differ materially from
those intended or anticipated by the Company. The TSX Venture has not
reviewed and does not accept responsibility for the adequacy or accuracy of
this release.
For more information, please contact:
AMS Homecare Inc.
Mr. Daryl Hixt, Corporate Communications
Telephone: 604-273-5173 ext 121
Facsimile: 604-273-9312
E-mail: ir@amshomecare.com
Agora Investor Relations Corp.
Web: agoracom.com (please select "AMS Homecare" from the
pull-down menu)
E-mail:AHC@agoracom.com |
